Section 13-109-10 - Penalty payback provisions(a) Failure by the applicant to comply with the management plan and agreement terms may result in the cancellation of the forest stewardship designation by the board.(b) In the event that the applicant defaults on the agreed terms between the board and applicant, the applicant shall promptly pay the State the following payback and penalty moneys: (1) If the applicant defaults in the first three years following the initial date of the agreement, the applicant shall pay back all matching funds to the State;(2) If the applicant defaults after the first three years following the initial date of the agreement, the applicant shall pay back matching funds received for the immediately preceding three years to the State; and(3) A penalty provision consisting of an interest payment as determined in the agreement between the board and applicant shall be added to the refund due to the State. Interest payment shall be calculated on an annual per cent of funds received by the applicant.[Eff. JAN 08 1999] (Auth: HRS § 195F-8) (Imp: HRS § 195F-7)